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Fallout from Pandora Papers

Fallout from the Pandora Papers continues as the President of Ecuador is under investigation and European leaders are criticizing the U.S. for its lack of money laundering controls. Investigation in Ecuador Ecuadoran President Guillermo Lasso is under investigation in his country for tax fraud.  Documents in the Pandora Papers linked Lasso to two private foundations

FinCEN Issues Report on Ransomware Trends in Bank Secrecy Act Data

FinCEN has issued a report on ransomware trends in Bank Secrecy Act data. The report was coordinated with a separate press release from the Treasury Department on its continuing campaign to combat ransomware. The FinCEN Report FinCEN - the Financial Crimes Enforcement Network - analyzed ransomware-related suspicious activity reports (or "SARs") filed during the first

By |2021-10-16T13:48:19+00:00October 16th, 2021|Categories: corporate transparency act, FinCEN, Money laundering|Tags: , , |0 Comments

Pandora Papers Draw Attention to Corporate Transparency Act

The Pandora Papers are drawing attention to the Corporate Transparency Act. Opinion writers in The Washington Post credit the bombshell investigative reporting for underscoring the need to implement this new law. Pandora Papers Writers from the International Consortium of Investigative Journalists last week published thousands of pages of documents.  The trove, known as the Pandora

By |2021-10-10T13:10:44+00:00October 10th, 2021|Categories: corporate transparency act, FinCEN, Money laundering, Pandora Papers|Tags: , , |Comments Off on Pandora Papers Draw Attention to Corporate Transparency Act

Pandora Papers Spark Call to Accelerate FinCEN Regulations

Over the weekend, a group of investigative journalists dumped thousands of pages of confidential documents they called the Pandora Papers.  These pages implicate dozens of world leaders in money laundering.  The bombshell Pandora Papers has sparked calls for FinCEN to accelerate the implementation of the Corporate Transparency Act. The Pandora Papers dig into the shell companies

By |2021-10-10T12:40:51+00:00October 5th, 2021|Categories: corporate transparency act, FinCEN, Pandora Papers|Tags: , , |Comments Off on Pandora Papers Spark Call to Accelerate FinCEN Regulations

Pandora Papers Highlight Money Laundering Risks

World leaders and high net worth individuals are responding to a massive document dump over the weekend being called the "Pandora Papers." Several major news organizations published the massive haul of documents on Sunday.  The documents appear to tie world leaders to secret stores of wealth.  The papers name King Abdullah of Jordan, Czech Prime

By |2021-10-08T10:51:22+00:00October 4th, 2021|Categories: corporate transparency act, FinCEN, Money laundering|Tags: , , , |Comments Off on Pandora Papers Highlight Money Laundering Risks

CTA May Impose New Ethical Duties on Attorneys

Some real estate attorneys are questioning whether the Corporate Transparency Act will impose new ethical obligations on attorneys. The Corporate Transparency Act (“CTA”) requires companies to disclose their beneficial ownership through a report filed with FinCEN, the Treasury Department’s Financial Crimes Enforcement Network. The rules of legal ethics, however, compel attorneys not to disclose their

By |2021-10-02T20:03:28+00:00October 2nd, 2021|Categories: corporate transparency act, FinCEN, legal ethics|Tags: , , |Comments Off on CTA May Impose New Ethical Duties on Attorneys
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